Canandaigua National Corp Decreases Stock Position in Mastercard Incorporated (NYSE:MA)


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Canandaigua National Corp lessened its stake in shares of Mastercard Incorporated (NYSE:MA) by 7.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 15,138 shares of the credit services provider’s stock after selling 1,218 shares during the period. Canandaigua National Corp’s holdings in Mastercard were worth $5,390,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in MA. Trust Asset Management LLC raised its holdings in Mastercard by 79.9% during the 3rd quarter. Trust Asset Management LLC now owns 4,502 shares of the credit services provider’s stock valued at $1,522,000 after buying an additional 1,999 shares during the period. Brasada Capital Management LP increased its stake in Mastercard by 0.6% in the third quarter. Brasada Capital Management LP now owns 22,928 shares of the credit services provider’s stock worth $7,754,000 after purchasing an additional 131 shares during the period. United Bank increased its stake in Mastercard by 8.6% in the third quarter. United Bank now owns 2,546 shares of the credit services provider’s stock worth $861,000 after purchasing an additional 202 shares during the period. ArrowMark Colorado Holdings LLC purchased a new stake in Mastercard in the third quarter worth $1,792,000. Finally, Peapack Gladstone Financial Corp increased its stake in Mastercard by 103.7% in the third quarter. Peapack Gladstone Financial Corp now owns 6,537 shares of the credit services provider’s stock worth $2,211,000 after purchasing an additional 3,328 shares during the period. Institutional investors own 73.64% of the company’s stock.

In other news, insider Edward Grunde Mclaughlin sold 13,248 shares of the firm’s stock in a transaction dated Friday, January 8th. The stock was sold at an average price of $350.73, for a total value of $4,646,471.04. Following the completion of the transaction, the insider now directly owns 38,447 shares in the company, valued at $13,484,516.31. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Foundation Mastercard sold 57,198 shares of the firm’s stock in a transaction dated Thursday, January 21st. The stock was sold at an average price of $334.17, for a total value of $19,113,855.66. Following the completion of the transaction, the insider now owns 109,068,605 shares of the company’s stock, valued at $36,447,455,732.85. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 768,468 shares of company stock valued at $254,295,843. Company insiders own 3.79% of the company’s stock.

MA has been the topic of a number of recent analyst reports. Truist Securities increased their target price on Mastercard from $415.00 to $450.00 and gave the stock a “buy” rating in a research note on Tuesday, March 9th. Raymond James increased their target price on Mastercard from $345.00 to $371.00 and gave the stock an “outperform” rating in a research note on Friday, January 29th. Barclays increased their target price on Mastercard from $360.00 to $380.00 and gave the stock an “overweight” rating in a research note on Monday, January 25th. Bank of America upgraded Mastercard from a “neutral” rating to a “buy” rating and set a $400.00 target price on the stock in a research note on Wednesday, January 6th. Finally, Jefferies Financial Group upgraded Mastercard from a “hold” rating to a “buy” rating and raised their price target for the company from $315.00 to $415.00 in a research note on Wednesday, January 13th. Four analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $367.26.

NYSE MA traded up $6.81 during trading on Thursday, hitting $377.89. The company’s stock had a trading volume of 40,396 shares, compared to its average volume of 4,468,171. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.85 and a quick ratio of 1.85. The company has a market cap of $375.38 billion, a PE ratio of 55.63, a P/E/G ratio of 2.56 and a beta of 1.19. The business’s 50 day simple moving average is $360.98 and its 200-day simple moving average is $340.56. Mastercard Incorporated has a fifty-two week low of $244.10 and a fifty-two week high of $389.50.

Mastercard (NYSE:MA) last issued its quarterly earnings results on Thursday, January 28th. The credit services provider reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.13. The business had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.01 billion. Mastercard had a return on equity of 114.80% and a net margin of 43.13%. The company’s quarterly revenue was down 6.7% on a year-over-year basis. During the same quarter last year, the company earned $2.07 earnings per share. Analysts expect that Mastercard Incorporated will post 6.31 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 7th. Stockholders of record on Friday, April 9th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Thursday, April 8th. Mastercard’s payout ratio is 22.65%.

Mastercard Company Profile

Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers related products and services.

Further Reading: What are Institutional Investors?

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Institutional Ownership by Quarter for Mastercard (NYSE:MA)

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